Boeing sees Q2 sales, profit rise

Boeing Co. reported Wednesday that its second-quarter revenue rose to $21.8 billion, up 9 percent from last year's quarter on higher deliveries in its 787 and 737 commercial aircraft programs.

Second-quarter revenue in the commercial airplanes segment was $13.6 billion, up 15 percent compared with last year's quarter.

The company's net income rose 12.5 percent in the recent quarter, to $1.09 billion, compared with the second quarter of 2012. Earnings results were driven by strong performance across the company's businesses, Boeing officials said in the company's quarterly release.

The company also increased its revenue guidance to between $83 billion and $86 billion on higher Defense, Space & Security revenue.

"Continued strong core operating performance drove higher earnings, revenue and operating cash flow during the quarter, and we returned significant value to shareholders through share repurchases and increased dividends," Boeing Chairman, President and CEO Jim McNerney said in a statement. "We also further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market."

Boeing Defense, Space & Security, a $33 billion business of Chicago-based Boeing Co. (NYSE: BA), is the second-largest employer in St. Louis, with 14,868 full-time local workers.